Tag Archives for " manage investment property "

Emory Area/DruidHills – Home for Rent

Lease a Classic 3 Bedroom/2 Bath Older Home located in Druid Hills Historic District within walking distance to Emory University.

Features include a spacious Living Room with Fireplace and built-in Bookshelves, large formal Dining Room, cozy Den with French Doors to covered patio; Custom Kitchen with glass-front cabinets, ample pot drawers, stainless steel appliances, pull-out Pantry and Granite Counters.

The property has a main floor Bedroom and Full Bath.  The upper level addition includes a Master Bedroom with Sitting Area and French Doors to Deck, Master Bath with Double Sinks, separate Tub and Shower, Walk-in Closet plus additional Bedroom/Office and Full Bath with Washer/Dryer.

Other features include Hardwood Floors throughout,  High Ceilings, Screened Porch, Large Lot, Patio, Offstreet Parking with easy turnaround for 2-3 cars.​

Contact Atlanta Decatur Homes for availability and further details.​

Decatur Property Management – Attracting Good Tenants

Young man and woman with baby

Preparing Your Decatur Rental Property

Renting your Investment Home in Decatur is important, but attracting good, long-term tenants is vital.

Before you begin marketing your Decatur property for lease, take a critical look at the overall condition of your home.  Renters have certain expectations when they are searching for a place and Condition matters!   

Here are a few essential preparations that will help attract good, qualified tenants :

  • Curb Appeal - The exterior appearance of your investment property is your first chance to make a great First Impression.  Make sure that shrubs are trimmed, lawn mowed, flower beds cleaned.  Paint or pressure wash the exterior if necessary.
  • Door Locks/Garage - It's always a good idea to change the locks after each tenant vacates.  Check all locks and windows to make sure they operate properly.  Make sure all Garage Openers or Gate Keys are working properly. 
  • Appliances - Make sure the Stove, Refrigerator and Dishwasher are clean and in working order.  Move the Washer/Dryer and make sure it is clean behind and underneath.  Check the Dryer filters and outside vents.
  • HVAC/Plumbing - Have a reputable HVAC contractor service your heating system. Leave some extra furnace filters for the tenants to change.  Check for any plumbing leaks under sinks and replace any defective parts. 
  • Paint or Wash Walls - The interior of your Decatur property should be as inviting as the exterior.  Re-paint walls and baseboards if necessary and check particularly for dirt around light switches and door frames.
  • Bathrooms/Kitchens - Bathrooms and kitchens should be spotless and all fixtures should shine.Check if bathroom caulk needs to be redone or towel racks tightened.   
  • Smoke Detectors/Lightbulbs - Replace all smoke detector batteries and check they are active.  Wash all chandeliers and light fixtures and make sure all lightbulbs are in working order
  • Clean and Vacuum - Wash hardwood floors and clean all baseboards and window sills, vacuum carpets or have them steam-cleaned.  Clean all exterior windows, inside and out.
  • Chimneys/Fireplace- If you have a working fireplace, have a reputable chimney sweep clean after each tenant vacates.

Invest in the Emory Area Property Market

Investor contemplating Emory home purchase

There are many reasons why investing in property near Emory University is a great idea!  Here are a few that might encourage buyers to consider buying an investment home in one of the vibrant neighborhoods near Emory University:

  • ​Atlanta is in the Sunbelt!
  • Atlanta and the Emory Area has had positive Job Growth!
  • Our local Emory economy is strong!
  • The area has enjoyed a strong, steady increase in Property Appreciation!
  • It is close to shopping and restaurants!

Perhaps one of  the most compelling reasons to purchase an Investment property in the Emory area is the availability of qualified prospective renters.

According to the Emory University website, as of September 2015, some 7,800 undergraduates and approximately 6,900 Graduate students and professors expected to move into single family homes, condos,apartments and student housing in the surrounding area.  Altogether, Emory University has 13,000 faculty members who needs homes as well.

The Emory Healthcare ​facility on Clifton Road employs approximately 16,000 doctors and medical staff, as listed on their website, and is one of the largest employers in DeKalb County.

The Center for Disease Control,​ also located on Clifton Road, has about 1500 local employees who also need local housing.

It is evident that  the area has a high annual influx of students, professors and medical personnel, which supports the benefits of investing in residential Emory area property where a large number of qualified prospective renters are available.

Atlanta Property Management Background Checks

Computer and phone in process of screening rental applicants

Emory Decatur Property Management always recommends that prospective tenants be thoroughly screened through credit, criminal and prior landlord reference checks.

It's easier to prevent a potential problem from occurring when considering a new tenant than it is to try to evict them later.  Because property managers represent investors who trust them to obtain qualified tenants for their properties, extreme care must be utilized during the screening process.

Screening begins with an Application completed by the applicant, giving written permission to obtain a credit report, criminal background, and former landlord reference information.  Here are a few good policies to follow when dealing with applicants:

  • ​Never accept a credit report provided by an applicant, as some credit reports have been sucessfully altered
  • Always check Landlord References, two references are better than one

While many applicants look promising on paper, a thorough check might show previous late rent payments, bad credit, eviction proceedings, or criminal activity.  It's important to evaluate every aspect of the appliant's ability to pay the rent and to be a viable tenant, without violating any provision of the Fair Housing Act.

In fact, ​a recent U.S Department of Housing and Urban Development (HUD) guidance policy recommends exercising caution when  considering criminal history for prospective applicants. According to a National Association of Realtors (NAR) publication, the guidance suggests "housing providers should create thoughtful policies and practices that are tailored to serve a substantial, legitimate and nondiscrimatory interest of the housing provider, such as resident safety and the protection of property".

Black Front Door of rental property with Fall Leaves

Atlanta Rental Property

Careful review of the prospective tenant's credit, ability to pay, criminal history, and past landlord references should be made in every case.

With appropriate due diligence during the screening process, the ultimate goal will be​ achieved - a new tenant who pays their rent on time and maintains the property.

Invest in the Emory Area Property Market

Investor contemplating Emory home purchase

There are many reasons why investing in property near Emory University is a great idea!  Here are a few that might encourage buyers to consider buying an investment home in one of the vibrant neighborhoods near Emory University:

  • ​Atlanta is in the Sunbelt!
  • Atlanta and the Emory Area has had positive Job Growth!
  • Our local Emory economy is strong!
  • The area has enjoyed a strong, steady increase in Property Appreciation!
  • It is close to shopping and restaurants!

Perhaps one of  the most compelling reasons to purchase an Investment property in the Emory area is the availability of qualified prospective renters.

According to the Emory University website, as of September 2015, some 7,800 undergraduates and approximately 6,900 Graduate students and professors expected to move into single family homes, condos,apartments and student housing in the surrounding area.  Altogether, Emory University has 13,000 faculty members who needs homes as well.

The Emory Healthcare ​facility on Clifton Road employs approximately 16,000 doctors and medical staff, as listed on their website, and is one of the largest employers in DeKalb County.

The Center for Disease Control,​ also located on Clifton Road, has about 1500 local employees who also need local housing.

It is evident that  the area has a high annual influx of students, professors and medical personnel, which supports the benefits of investing in residential Emory area property where a large number of qualified prospective renters are available.

Atlanta Renters Love Dogs – Property Owners Not So Much!

Dog's head in clouds against deep blue sky

Some Pet owners are finding it difficult to lease a property in Atlanta and in the Emory area because many property owners are reluctant to accept pets.

We Love Our Dogs

According to a recent survey by Apartments.com, more than 70% of renters own a pet. In fact, 65% of American households own a pet – 42% owned a cat and 54.4% owned a dog.

Some two-thirds of pet owners have experienced difficult in finding rental property that allowed pets.

If you are an investor with a rental property, one of the frequent questions you will hear is “do you take pets”?

There are horror stories about dogs that destroyed the woodwork or chewed the carpet, but most pets are well-behaved or crated when their owner is away. If the investment property is in a townhome or condo community, you should consider your neighbors, where a barking dog could encourage complaints.

You should also be aware thats Service animals or therapy animals are an exception and you cannot refuse to lease to the owner, or charge a Pet Deposit. The pet owner should provide you with appropriate paperwork, showing that they need the pet for a disability.

The decision to allow pets is a personal one, but here are a few items to consider:

    • You will be collecting a Security Deposit from your tenant. How much additional Pet Deposit should you require? Experienced property managers recommend at least a non-refundable $250 per pet deposit
    • What restrictions will you set on the size of the pet and the breed?
    • If your property is a community with HOA policies, you should check any restrictions they may have before you agree to accept a pet in your investment home.

 

What Can a Decatur Property Manager Do For You?

Decatur businessman with pink pig on head

Managing your own Decatur investment property is often difficult, especially if you need time for a demanding full-time job, a busy family life, and want some precious down time.

Investor[1]
Those annoying tenant requests always seem to come at critical times – just when you are leaving for vacation or an important business trip.

You may have inherited a family home or become a new Decatur investor. Your Decatur home may need repairs or updates – someone will need to meet the workmen.

When your property is ready, you will need to advertise for new tenants – someone will need to screen them carefully by requiring credit, background, criminal checks, employment and more.

  • How will you market your home for tenants?
  • Who will prepare the Lease?
  • Who will hold the Security Deposit?
  • How will the rent be collected?
  • Who will answer the midnight calls from tenants?
  • Who will you use for handymen, electricians, plumbers, etc?
  • If your tenant gets locked out, who will provide an extra key?
  • What records and reports will you keep?

All these items can be professionally handled by an experienced Decatur property manager who knows your neighborhood…..plus more:

  • We can schedule period inspections of your property
  • We can make sure tenants are following the terms of the lease – no unauthorized additional tenants, pets, or painting
  • We can schedule regular HVAC inspections
  • We can prepare any changes to the Lease
  • We can prepare Monthly and Year-end Reports for your records
  • We can schedule necessary repairs
  • We can oversee installation of new carpets, or schedule painters
  • We can initiate all advertising and marketing
  • We can provide strict screening of all tenants

Managing Residential Property Near Emory University

Green knitted house with red roof sitting on a log

You may need a little assistance in managing your Emory area investment home or Decatur property – particularly if  you have moved away from the Atlanta area.

Some investors and owners do successfully manage their own properties.  An experienced Decatur property manager, however, can save you many headaches, like those calls in the middle of the night to syfon water out of a flooded basement or an alarm going off that your tenant can’t locate.  Tenants have called me recently for both of these issues and they need to be handled quickly.

Managing property for other people requires special skills:

  • A very thick skin helps -a property manager acts as a Mediator between the Owner and the Tenant
  • Organization is essential – must be able to set priorities and use follow-up systems
  • Good accounting systems and payment systems
  • A Dedicated Trust Account – regularly balanced
  •  The ability to check credit, background and references
  • Preparation of Leases, Amendments, Move In/Move Our Agreements
  • Great Handymen, Painters, Electricians, etc. – know who to call

A good Property Manager can:

  • Make sure the Heating and Air Conditioning are regularly serviced
  • Make regular inspections of your property
  • Arrange to have a leak repaired or a garbage disposal installed
  • Supervise repairs that often need to be done when a tenant moves out and another moves in
  • Keep you informed of conditions that affect your property

If you are managing your own property or  inherited a home you would like to lease in the Decatur or Emory area, consider hiring a professional Property Manager.